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Lagarde Vows to Address Soaring Inflation in Amsterdam Speech

Friday, June 10, 2022
Lagarde Vows to Address Soaring Inflation in Amsterdam Speech © Reuters

By Scott Kanowsky

Investing.com -- European Central Bank President Christine Lagarde pledged to work to rein in soaring inflation in a closely-watched press conference in Amsterdam on Thursday.

Lagarde's comments come after the ECB announced plans to halt its massive bond-buying program and increase interest rates by 25 basis points in July, as it looks to bring prices back down to the central bank's 2% target.

The ECB also committed to a further rate rise at its September meeting. Lagarde did not specify the size of that move, saying instead that that increase will depend on changes to the ECB's inflation outlook.

"If the medium-term inflation outlook persists or deteriorates, a larger increment will be appropriate at our September meeting," Lagarde said. "So [...] if you are at 2.1% in 2024 or beyond then the increment adjustment will be higher, the answer is yes."

Beyond September, the central bank added that it anticipates a "gradual but sustained path" of rate increases, depending on incoming data.

The ECB also raised its euro area inflation projection in 2022 to 6.8% from 5.1%, with energy prices expected to stay higher for longer due to the conflict in Ukraine. Inflation is then seen dropping to 3.5% in 2023 and 2.1% in 2024. Forecasts for annual real GDP growth were also cut to 2.8% for 2022 and 2.1% over the following two years.

The EUR/USD rose initially after the ECB's announcement, but fell after Lagarde's speech, trading at $1.0691 at 0928 EST (1327 GMT). Meanwhile, the yields on benchmark Italy 10-Year and Germany 10-Year bonds jumped, touching their highest levels in eight years.

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26-06-2022 18:57:31 (UTC+7)

EUR/USD

1.0554

+0.0031 (+0.29%)

Summary

Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (4)

EUR/USD

1.0554

+0.0031 (+0.29%)

Summary

Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (4)

GBP/USD

1.2272

+0.0012 (+0.10%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (6)

USD/JPY

135.23

+0.29 (+0.22%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (1)

AUD/USD

0.6944

+0.0055 (+0.80%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (6)

USD/CAD

1.2891

-0.0103 (-0.79%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (5)

EUR/JPY

142.71

+0.71 (+0.50%)

Summary

↑ Buy

Moving Avg:

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Sell (1)

Indicators:

Buy (8)

Sell (1)

EUR/CHF

1.0114

-0.0001 (-0.01%)

Summary

↑ Sell

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Sell (11)

Indicators:

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Sell (6)

Gold Futures

1,828.10

-1.70 (-0.09%)

Summary

↑ Buy

Moving Avg:

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Sell (4)

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Sell (0)

Silver Futures

21.130

+0.088 (+0.42%)

Summary

Sell

Moving Avg:

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Sell (12)

Indicators:

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Copper Futures

3.7365

-0.0025 (-0.07%)

Summary

Sell

Moving Avg:

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Sell (11)

Indicators:

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Sell (4)

Crude Oil WTI Futures

107.06

+2.79 (+2.68%)

Summary

↑ Sell

Moving Avg:

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Sell (12)

Indicators:

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Brent Oil Futures

113.19

+3.14 (+2.85%)

Summary

↑ Sell

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Indicators:

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Natural Gas Futures

6.173

-0.066 (-1.06%)

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Indicators:

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US Coffee C Futures

223.40

-5.60 (-2.45%)

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Indicators:

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Euro Stoxx 50

3,533.17

+96.88 (+2.82%)

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Neutral

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Indicators:

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S&P 500

3,911.74

+116.01 (+3.06%)

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↑ Buy

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DAX

13,118.13

+205.54 (+1.59%)

Summary

↑ Sell

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Sell (7)

FTSE 100

7,208.81

+188.36 (+2.68%)

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↑ Buy

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Sell (1)

Hang Seng

21,719.06

+445.19 (+2.09%)

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↑ Buy

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US Small Cap 2000

1,765.74

+54.06 (+3.16%)

Summary

↑ Buy

Moving Avg:

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Sell (0)

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Sell (0)

IBEX 35

8,244.10

+137.70 (+1.70%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (3)

Sell (5)

BASF SE NA O.N.

42.215

+0.785 (+1.89%)

Summary

↑ Buy

Moving Avg:

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Sell (1)

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Buy (7)

Sell (1)

Bayer AG NA

57.79

-0.75 (-1.28%)

Summary

↑ Sell

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Sell (7)

Allianz SE VNA O.N.

181.20

+2.20 (+1.23%)

Summary

↑ Sell

Moving Avg:

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Adidas AG

170.36

+3.30 (+1.98%)

Summary

↑ Sell

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Deutsche Lufthansa AG

5.966

-0.310 (-4.94%)

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↑ Sell

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Siemens AG Class N

102.62

+3.36 (+3.39%)

Summary

↑ Buy

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Deutsche Bank AG

8.919

+0.407 (+4.78%)

Summary

↑ Buy

Moving Avg:

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Sell (0)

Indicators:

Buy (8)

Sell (0)

 EUR/USD1.0554Buy
 GBP/USD1.2272↑ Sell
 USD/JPY135.23↑ Buy
 AUD/USD0.6944↑ Sell
 USD/CAD1.2891↑ Sell
 EUR/JPY142.71↑ Buy
 EUR/CHF1.0114↑ Sell
 Gold1,828.10↑ Buy
 Silver21.130Sell
 Copper3.7365Sell
 Crude Oil WTI107.06↑ Sell
 Brent Oil113.19↑ Sell
 Natural Gas6.173↑ Buy
 US Coffee C223.40↑ Buy
 Euro Stoxx 503,533.17Neutral
 S&P 5003,911.74↑ Buy
 DAX13,118.13↑ Sell
 FTSE 1007,208.81↑ Buy
 Hang Seng21,719.06↑ Buy
 Small Cap 20001,765.74↑ Buy
 IBEX 358,244.10Sell
 BASF42.215↑ Buy
 Bayer57.79↑ Sell
 Allianz181.20↑ Sell
 Adidas170.36↑ Sell
 Lufthansa5.966↑ Sell
 Siemens AG102.62↑ Buy
 Deutsche Bank AG8.919↑ Buy
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# So hôm qua # Chênh TG
SJC Eximbank6,760/ 6,840
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SJC Nhatrang6,785/ 6,867
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SJC Cantho6,785/ 6,867
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RON 95-V33.47034.130
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Cập nhật lúc 18:52:30 26/06/2022
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